Vietnam will keep on stabilizing prices of 14 essential commodities this year in an effort to avoid sudden price hikes leading to speculation of some goods occurred last year, said Nguyen Tien Thoa, head of Price Management Department under the Ministry of Finance.
These goods include petroleum, gas, cement, iron and steel, fertilizer, veterinary medicines, pesticide, salt, sugar, milk, rice, animal feed, railway services and medicines, Thoa said.
The price mechanism this year will be more flexible in order to have timetable adjustments to real market development, Thoa added.
In case of occurring price fluctuations for some commodities, suppliers of these goods must register selling prices with relevant agencies, he noted.
Recently, Deputy Minister of Industry and Trade, Nguyen Cam Tu, on behalf of the domestic market management team, sent the proposal has recently sent a proposal to the prime minister to recalculate the prices of electricity and coal to better suit the current economic climate, state-run newspapers reported.
The team said that the consumer price index is decreasing but inflation is still high, reducing purchasing power, causing a standstill in production. In such a context, electricity and coal price hikes will lead to a rise in prices of many other goods. (Youth, New Hanoi)
Vietnamese
